Another surprise from China’s monthly trade report – instead of another rise in exports, in April, the data showed a fall, raising questions if the trade war with the US was biting deeper than previously thought.
China’s General Administration of Customs said exports fell 2.7% from the same month in 2018, more than reversing the rise of 14.2% in March.
Imports rose 4.0% from a year earlier in April, after falling 7.6% in March. The market had forecast a small fall
China’s overall trade surplus more than halved to $US13.8 billion in April from the $US32.7 billion surplus in March.
Economists had forecast a surplus of $US33.6 billion.
April saw China’s trade surplus with the US rise to $21.01 billion in April from $20.5 billion in March (meaning it is likely China had a small trade deficit with the rest of the world).
That news came as the trade impasse between the US and China continues to drag on, and as Washington threatens to up tariffs on more Chinese imports at the end of the week. Talks are due to start in Washington later today.
